Company file · BDX

Becton Dickinson

Medical was Becton Dickinson's fastest-growing segment in FY2025, up 13.7%

Revenue rose 8.2% to $21.8B in FY2025, from $20.2B in FY2024. Net income fell 1.6% to $1.7B. Medical was the largest segment, at 52% of revenue.

Prepared from SEC filings · Latest annual report: 10-K for FY2025 (filed Nov 25, 2025) · Latest quarter: 10-Q for the quarter ended Jun 30, 2026 (filed Aug 6, 2026) · Data pulled Nov 11, 2026

Key facts

Becton Dickinson (NYSE: BDX) reported revenue of $21.8B for fiscal 2025, the year ended Sep 30, 2025, up 8.2% from fiscal 2024. Net income was $1.7B, down 1.6%. In its latest 10-Q, for the quarter ended Jun 30, 2026, revenue was $5.0B, up 5.4% from the same quarter a year earlier, and net income was $377M. The largest piece by segment was Medical, at 52% of fiscal 2025 revenue. Sources: 10-K for fiscal 2025 (filed Nov 25, 2025) and 10-Q for the quarter ended Jun 30, 2026 (filed Aug 6, 2026).

Revenue$21.8BFY2025 · +8.2% vs FY2024

Net income$1.7BFY2025 · −1.6% vs FY2024

Cash & equivalents$708Mat Jun 30, 2026 · +24.9% vs FY2025 end

Total debt$16.8Bat Jun 30, 2026 · −12.4% vs FY2025 end

Diluted shares289MFY2025 avg · −0.9% vs FY2024

Revenue and net income, three fiscal yearsBy fiscal year, $bn

RevenueNet income

Source: 10-K FY2025, filed Nov 25, 2025

Quarterly revenue: fiscal 2026 vs a year earlierFiscal Q1–Q3, $bn (each quarter from that quarter's 10-Q)

FY2025FY2026

Source: 10-Q filed Feb 9, 2026 · 10-Q filed May 7, 2026 · 10-Q filed Aug 6, 2026

How it makes money

By segment, FY2025

LineAmountSharevs FY2024
Medical$11.5B52%+13.7%
Interventional$5.2B24%+4.8%
Life Sciences$5.2B24%−0.5%

Source: 10-K FY2025, XBRL breakdown

By segment in FY2025: Medical (52%), Interventional (24%) and Life Sciences (24%), as shares of total revenue. Total revenue was $21.8B.

By segment: three-year mixShare of the total each fiscal year

FY2023

49%24%26%

FY2024

50%25%26%

FY2025

52%24%24%

MedicalInterventionalLife Sciences

Source: 10-K FY2025

By region, FY2025

United States$12.8B59%+9.7%

Non-US$9.0B41%+6.3%

Share is of the FY2025 total; the last column is the change from FY2024.

Learn more: Revenue vs. net income · Gross, operating and net margin

What changed last quarter

How the quarter compared with a year earlier

Comparing Q3 FY2026 (Apr to Jun 2026) compared with Q3 FY2025 (Apr to Jun 2025)

Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.

Q3 FY2026Q3 FY2025

Company

Revenue

$5.0B Q3 FY2026

$4.7B Q3 FY2025

5.4% increase

Net income

$377M Q3 FY2026

$574M Q3 FY2025

34.3% decrease

Source: Becton Dickinson 10-Q for the quarter ended Jun 30, 2026, filed Aug 6, 2026

By segment

Interventional

$1.4B Q3 FY2026

$1.3B Q3 FY2025

6.5% increase

Source: Becton Dickinson 10-Q for the quarter ended Jun 30, 2026, filed Aug 6, 2026

Cash & equivalents $708M at Jun 30, 2026, vs $567M at FY2025 end.
Total debt $16.8B at Jun 30, 2026, vs $19.2B at FY2025 end.

The bull case and the bear case

The bull case

Revenue rose 8.2% in FY2025 to $21.8B, from $20.2B a year earlier. 10-K, FY2025
Total debt fell 4.6% in FY2025 to $19.2B. 10-K, FY2025
Revenue in the quarter ended Jun 30, 2026 was $5.0B, up 5.4% on a year earlier. 10-Q, quarter ended Jun 30, 2026
Medical revenue grew 13.7% in FY2025 to $11.5B. 10-K, FY2025

The bear case

Net income fell 1.6% in FY2025 to $1.7B, from $1.7B. 10-K, FY2025
Net income in the quarter ended Jun 30, 2026 was $377M, down 34.3% on a year earlier. 10-Q, quarter ended Jun 30, 2026
Life Sciences revenue fell 0.5% in FY2025 to $5.2B. 10-K, FY2025

What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.

What the company does

Becton Dickinson is in the health care equipment industry, part of the health care sector. The SEC files it under Surgical & Medical Instruments & Apparatus.

Becton Dickinson reports 3 segments: Medical, Interventional and Life Sciences.

Its fiscal year ends in September; the latest, FY2025, ended Sep 30, 2025.

Source: 10-K, Item 1 Business

Risks common in this industry

These are general risks for companies in the health care equipment industry. They are not a summary of Becton Dickinson’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.

RegulationApprovals, safety rules and government oversight shape what it can sell and how.
Pricing and reimbursementPayers, insurers and governments influence what it can charge.
CompetitionNew treatments, generics and rival products can take share.
LitigationProduct liability and other legal claims can lead to costs.
SupplyManufacturing and supplier problems can interrupt products.

Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)

Three years of key numbers

Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.

US$	FY2023	FY2024	FY2025
Revenue	$19.4B	$20.2B	$21.8B
Net income	$1.5B	$1.7B	$1.7B
Cash & equivalents (year end)	$1.4B	$1.7B	$567M
Total debt (year end)	$15.9B	$20.1B	$19.2B
Diluted shares	288M	291M	289M

Revenue: Total revenue for the fiscal year, as the company reports it on its income statement.
Net income: Net income attributable to the company's shareholders, after all costs, interest and taxes.
Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
Total debt: Debt due within one year plus long-term debt, at carrying value.
Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.

Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator · Market cap calculator · Free cash flow calculator · Return on equity and assets calculator

Explainers for this page

Plain-English guides to terms this file uses, with real numbers from filings.

About these numbers

What we left out

Operating cash flow: the company's filing data doesn't carry it for all the years shown, so it isn't shown.

Recent filings

Form	Filed	Period
10-Q	Aug 6, 2026	Jun 30, 2026
10-Q	May 7, 2026	Mar 31, 2026
10-Q	Feb 9, 2026	Dec 31, 2025
DEF 14A	Dec 18, 2025	Dec 12, 2025
10-K	Nov 25, 2025	Sep 30, 2025

Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters

Common questions about Becton Dickinson

How does Becton Dickinson make money?

Becton Dickinson's revenue was $21.8B in fiscal 2025. By segment in FY2025: Medical (52%), Interventional (24%) and Life Sciences (24%), as shares of total revenue. Total revenue was $21.8B. Source: 10-K for fiscal 2025, filed Nov 25, 2025.

What was Becton Dickinson's revenue in fiscal 2025?

$21.8B of revenue for the fiscal year ended Sep 30, 2025, up 8.2% from $20.2B in fiscal 2024. Fiscal 2023 was $19.4B. Source: 10-K for fiscal 2025, filed Nov 25, 2025.

Is Becton Dickinson profitable?

Becton Dickinson reported net income of $1.7B for fiscal 2025, down 1.6% from $1.7B in fiscal 2024. That is a profit under US accounting rules (GAAP). In the quarter ended Jun 30, 2026, net income was $377M. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2025, filed Nov 25, 2025.

What did Becton Dickinson report in its latest quarterly filing?

Revenue was $5.0B in the quarter ended Jun 30, 2026, up 5.4% from $4.7B a year earlier. Net income was $377M, down 34.3% from $574M. Source: 10-Q for the quarter ended Jun 30, 2026, filed Aug 6, 2026.

How much cash and debt does Becton Dickinson have?

Becton Dickinson had $708M in cash and cash equivalents and $16.8B of total debt on Jun 30, 2026. Total debt here is debt due within one year plus long-term debt, at carrying value. Source: 10-Q filed Aug 6, 2026.

What are the main risks Becton Dickinson faces?

Becton Dickinson's own risk factors are in Item 1A of its 10-K for fiscal 2025, filed Nov 25, 2025. Risks that are common among companies in the health care equipment industry include Regulation; pricing and reimbursement; competition; litigation; supply. The first: Approvals, safety rules and government oversight shape what it can sell and how. Source: 10-K, Item 1A Risk Factors.

Where do these Becton Dickinson numbers come from?

From Becton Dickinson's own SEC filings: the 10-K for fiscal 2025 (filed Nov 25, 2025) and the 10-Q for the quarter ended Jun 30, 2026 (filed Aug 6, 2026), read through the SEC's public XBRL data. Each number on this page links to its filing. Methodology explains how fiscal years and missing numbers are handled.

Tracked funds that report owning Becton Dickinson

Two Sigma Investments: 293,839 shares, reported value $44.5M at Jun 30, 2026 (+703.7% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
Citadel Advisors: 118,843 shares, reported value $18.0M at Jun 30, 2026 (−85.7% in shares since the filing for Mar 31, 2026). Form 13F filed Sep 2, 2026.
Bridgewater Associates: 9,382 shares, reported value $1.4M at Jun 30, 2026 (−1.2% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.

From each fund’s latest Form 13F, which is filed up to 45 days after quarter end and lists long positions in US-listed stocks only. A listing here is a fact about a filing, not a view on the stock. What a 13F does and doesn’t show.

Disclosures

Editor holdings in BDX: The editor holds no position in Becton Dickinson (BDX). As of Nov 11, 2026.
Trading rule: The editor does not buy or sell BDX from 3 days before to 3 days after this page is published or substantively updated.
Compensation: Nobody paid for this page. No affiliate links on this page.
Sources: The company's SEC filings, linked next to each number or, for charts, in the source line under them.
Last updated: Nov 4, 2026

General education, the same for every reader. Not a recommendation to buy, sell or hold BDX, and it doesn't consider your situation.

Compare with peers

Company	Fiscal year	Revenue	Revenue growth	Net income
Becton DickinsonBDX	FY2025	$21.8B	+8.2%	$1.7B
AbbottABT	FY2025	$44.3B	+5.7%	$6.5B
Intuitive SurgicalISRG	FY2025	$10.1B	+20.5%	$2.9B
MedtronicMDT	FY2026	$36.4B	+8.4%	$4.8B
StrykerSYK	FY2025	$25.1B	+11.2%	$3.2B

Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.

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New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.